Full coverage or liability for insurance

[swathdiver]

Bruce, the OBS are the GMT400 trucks from the 1990s and the NBS are the GMT800s from the early 2000s. OLD BODY STYLE, NEW BODY STYLE and not mentioned are the GMT900s which are referred to as the NEW NEW BODY STYLE.

A 2007-2014 GMC Yukon XL is a GMT932 chassis for example.

 

[Nashoba]

Thanks. I guess I had a senior moment because all I could think of was old bull sh*t and new bull sh*t. It just did not compute. I am well aware of the old and new chassis nomenclature, etc., just did not connect the dots.

I agree that no one should spend a lot on insurance on a fifteen year old vehicle as a daily driver, and would not do that. However, as we intend to put a new set of batteries in out 2008 Tahoe Hybrid and drive it till it dies, and as my truck is a 2015 Silverado Double Cab 4X4 5.3L with less than 7K on it, we choose to insure them comprehensively. Just something many of our generation does. I am 70 and my dad had five NAPA stores I worked in from 1959 to 1969, when I graduated from college. My blood is 30 weight Pennzoil.

 

[swathdiver]

Your descriptions are accurate too! I figure if any vehicle is worth more than 10k and full coverage is at or under a $100 a month then there is value to having it. Course, some young fella is going to be hard pressed to pay so little each month even for basic insurance!

When I was a kid with my first car/hot rod, it cost me $2400 a year for basic insurance and that was thirty some years ago!

 

[Nashoba]

Insurance on my '64 Impala in 1966 was $144 a year. It was my fourth car. Dad kept buying cheap cars for me to drive in high school, first a 1963 Renault Dauphine, then a 1963 Olds Cutlass. He did not want me to drive either to college so when I graduated in 1965, he got me a 1965 Plymouth Sport Fury "demonstrator" with about 17,000 on it. I totaled it out in August of 1966 and that was when I got my Impala. Dad was upset because the insurance on the Sport Fury was only $112 a year. The Sport Fury cost $3500 and the insurance company paid me $2800. I spent $1500 on the Impala and gave the $1300 to Dad. So I didn't understand why he was upset about the $144 per year.

 

[swathdiver]

He was probably upset about the 22% rate hike by the insurance company!

 

[97WhiteYukon]

I had full coverage for my 97 2 door since 2012. It was stolen 3 weeks ago and insurance is taking their sweet time cutting me a check, havnt even heard how much I'm getting but I'm sure it's pennies compared to what I could have got for it. And by my guess, I've paid 3 times the amount in the past 5 years on it than what they will give me. I would look at the specific details if I had to do it again, but probably would have opted for the liability. Full coverage is good if your car is worth a lot more than 2-5k.

 

[ScottyBoy]

I had full coverage for my 97 2 door since 2012. It was stolen 3 weeks ago and insurance is taking their sweet time cutting me a check, havnt even heard how much I'm getting but I'm sure it's pennies compared to what I could have got for it. And by my guess, I've paid 3 times the amount in the past 5 years on it than what they will give me. I would look at the specific details if I had to do it again, but probably would have opted for the liability. Full coverage is good if your car is worth a lot more than 2-5k.

If your truck is stolen and not recovered, it's common practice for an insurance company to wait at least 30 days to see if it's recovered. If it isn't recovered yet, then be prepared to wait at least another week or two before they pay you. And yes, they WILL give you pennies on the dollar. I had a car insured with full coverage before and I had to make a claim due to a fire in my trunk. They took about 3 weeks to cut me a check, even though my car was racking up storage fees at a tow yard. They only offered me $2800 for my car, then after the $500 deductible, it was $2300 AND they get to keep my car. I asked them how much for me to keep my car and they said it would cost $300. So I ended up with a check for $2000 and I kept my car. I did the repairs myself, all I had to do was get a new trunk lid, bumper, tails, and a wiring harness to rewire the back half of the car (which was only the tails and license plate lights), plus clean the hell out of the interior to get the burnt smell out of it and soot off of some surfaces. Cost me about $300 in parts at the junkyard, but I never did get the car repainted as long as I owned it.

 

[97WhiteYukon]

Thanks for the info. That's what I was thinking. They said after 14 days if it's not recovered they will pay me out but I get the feeling they are stalling. I'm going to start the harrasing next week to try and get them to speed it up. On the bright side they cover towing and storage fees for up to 4 days.

 

[ScottyBoy]

Thanks for the info. That's what I was thinking. They said after 14 days if it's not recovered they will pay me out but I get the feeling they are stalling. I'm going to start the harrasing next week to try and get them to speed it up. On the bright side they cover towing and storage fees for up to 4 days.

If you have State Farm, they will most definitely wait 30 days to see if it gets recovered. As far as towing and storage, I don't know what the maximum was, but my car was in storage for 20 days, plus the cost of the tow to bring it to the storage yard. The total towing and storage bill was over $700 and State Farm paid all of it. Then I had the car towed back to my house, and they ended up paying for that too because I have "Towing reimbursement" on my policy. I had to pay, but they reimbursed me when I gave them my receipt a few days later.
FYI: Those of you who have State Farm, you can add towing reimbursement to ANY policy, even if you only have liability. I still have that to this day and it's well worth it. It's only about another dollar or two a month, and it MORE than pays for itself if you need to get towed just once in a year. The only drawback is that they will only tow you up to 100 miles. I found that out the hard way when I had a brake caliper bolt come loose at 75mph and I was still over 3 hours from home. I had to do some ghetto roadside repairs to get it home. Thankfully a good Samaritan stopped to help me and even drove me to an auto parts store to get what I needed to get it back on the road.

 

[Kim Allison Ross]

I understand OBS to mean obsolete vehicle & NBS to mean a newer model.

I only have liability on my OBS. I feel if I put $ into it, I won’t get it back if I get in a wreck. Sure keep it in good repair but I’m not going extravagant.